EUROPE CYSTIC FIBROSIS THERAPEUTICS MARKET FORECAST 2020-2028

EUROPE CYSTIC FIBROSIS THERAPEUTICS MARKET FORECAST 2020-2028

The European cystic fibrosis market is predicted to grow considerably and reach the highest CAGR of 10.10% over the forecast period of 2020-2028. The important factor accelerating the growth of the market is a surge in the incidence of cystic fibrosis in the region. In 2016, as per the European Cystic Fibrosis Society, out of 38,985 individuals suffering from cystic fibrosis, 10,336 were from the UK.

The European cystic fibrosis market is predicted to grow considerably and reach the highest CAGR of 10.10% over the forecast period of 2020-2028. The important factor accelerating the growth of the market is a surge in the incidence of cystic fibrosis in the region. In 2016, as per the European Cystic Fibrosis Society, out of 38,985 individuals suffering from cystic fibrosis, 10,336 were from the UK.

The fast pace of growth of the cystic fibrosis therapeutics market of Europe is analyzed with respect to countries such as Germany, Russia, the United Kingdom, France, Poland, Italy, Belgium, and the rest of Europe. In the UK, increasing awareness among patients regarding early diagnosis of cystic fibrosis, a surge in investment for R&D of various CF drugs, a rise in national newborn screening programs, and many companies developing drugs for individuals who do not get benefitted from CFTR drugs, are the factors fueling the market growth in the region.

In countries like France, the prevalence of cystic fibrosis across the country, along with increasing healthcare spending is anticipated to fuel the market. In Italy, researches on cystic fibrosis are in process, and this growing R&D in the country is estimated to accelerate market growth. Russian government provides insurance for CF, but it does not cover all medications and treatments. This is hindering the market growth in Russia, implying that the market will grow at a stable rate.

GlaxoSmithKline PLC, headquartered in Brentford, Middlesex, UK, is a healthcare company that manufactures, develops, and sells pharmaceuticals, OTC medicines, vaccines, and consumer healthcare products. The company operates across Europe and the US. In November 2019, it was announced that the company would develop the investigational broadly neutralizing antibody for the treatment and prevention of HIV-1.

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